Korelin Economics Reporthttp://www.kereport.com
The original radio and internet show dealing exclusively with asset-based investing that was listened to by over 2 million people last yearTue, 03 Mar 2015 18:30:44 +0000en-UShourly1http://wordpress.org/?v=3.9.3Opinions from Chris and Glen - Tue 3 Mar, 2015http://www.kereport.com/2015/03/03/speech/
http://www.kereport.com/2015/03/03/speech/#commentsTue, 03 Mar 2015 18:30:44 +0000http://www.kereport.com/?p=27629Download audio file (Speech1.mp3)]]>

]]>http://www.kereport.com/2015/03/03/gary-discusses-gold/feed/59Company Update - Tue 3 Mar, 2015http://www.kereport.com/2015/03/03/gold-buyouts-heat/
http://www.kereport.com/2015/03/03/gold-buyouts-heat/#commentsTue, 03 Mar 2015 15:14:01 +0000http://www.kereport.com/?p=27623Although this is an advertisement for Gold Canyon the article is a good overview of what the company has going...]]>

Although this is an advertisement for Gold Canyon the article is a good overview of what the company has going for it. We will be having Gold Canyon’s Director Dr. Quinton Hennigh on the show later this week. If you have any questions you would like us to ask please leave a note in the comments below.

Program Would Focus on Development of Natcore’s “Best of Breed” Program

Red Bank, NJ — (March 2, 2015) — Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK)has signed a Memorandum of Understanding with the Fraunhofer Institute for Solar Energy (Fraunhofer ISE), under which the two organizations would cooperate in developing solar energy projects for third party customers.

The Memorandum outlines how Natcore and Fraunhofer will work together on various areas of solar energy technology, including but not limited to:

Consultancy and project management projects during ramp-up for customers intending to enter the field of photovoltaic production;

Support of existing cell and module manufacturers who are optimizing their production sites;

Promotion of innovative technologies of Fraunhofer ISE and Natcore;

Structure joint venture research projects within the framework of national funding programs.

Fraunhofer ISE is one of the 60 institutes of the Fraunhofer-Gesellschaft. It is one of the most prominent international research institutions in the field of renewable energy materials, technology and systems. The Fraunhofer-Gesellschaft is Europe’s largest research institution, and is the legal entity for Fraunhofer ISE.

On November 12, Natcore announced that it had established a consulting service to provide unbiased business and technical advice to potential new solar cell and solar panel manufacturers and to established solar manufacturers wishing to upgrade their facilities. As part of their service, Natcore will recommend a “best of breed” selection of manufacturing equipment to its clients, and will offer limited exclusivity to incorporate new technology developed by Natcore into the client facilities when such technology becomes available for commercial production.

“One of the most compelling features of our best of breed program is exclusive access to our technology,” says Natcore President and CEO Chuck Provini. “Our customers will be able to integrate our proprietary laser, black silicon, germanium quantum dot, all-back contact and all-low-temperature technologies into their production lines.

“And by teaming with Fraunhofer, we’ll differentiate ourselves from potential competitors even further,” adds Provini. “We’ll have a very muscular program.”

# # # # #

Statements herein other than purely historical factual information, including statements relating to revenues or profits, or Natcore’s future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Natcore’s business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, Natcore expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

“Much of the gold mining industry is underwater and can’t make money with these prices. We’ve seen capital programs being significantly cut back, in terms of companies looking to expand and build new mines.”

“Those companies have been sufficiently scared enough that, even when gold prices do recover, they’re going to hold off on expansions because they might have lost the appetite to risk capital on new projects.”

This is where royalty companies come in.

As a refresher, royalty companies basically serve as specialized financiers that help fund cash-strapped miners’ exploration and production projects. In return, they receive either royalties on whatever the mine produces or what’s known as a “stream,” which is a commitment to an agreed-upon number of ounces of gold or other precious metal per year.

From an investors’ point of view, royalty companies just have a superior business model. I’ve discussed this on numerous occasions, most recently during this week’s Gold Game Film, which we shot in Fort Lauderdale following the 2015 Gold Stock Analyst Investor Day.

Attractive Risk/Reward Profile

There are several reasons why Ralph and I find these companies so attractive.

For one, they’ve typically remained well-diversified. Whereas any given mining company might own only one or two mines—which may or may not be operational—royalty companies can stay profitable by receiving regular streams of revenue from multiple sources. Toronto-based Silver Wheaton, the world’s largest precious metals streaming company, has secured the right to purchase silver at a very low fixed cost from 18 operating mines in North and South America and Europe.

Another reason why these companies have outperformed is because, simply put, they’re not the ones getting their hands dirty. Their only obligation is to lend capital. They don’t build the mine’s infrastructure; they’re not responsible for cost overruns or maintenance; they don’t experience capital cost inflation; and they don’t have dozens of miners and other personnel on their payrolls. Royalty companies, therefore, enjoy many of the upsides of being in the precious metals industry but face very few, if any, of the risks.

To elaborate on one of the points already made, these companies have extremely low overhead compared to miners. Silver Wheaton is run by 30 people at most, and yet it generates around $500 million in revenue. On average, that’s $16 million per employee! It’s very possibly the world’s most profitable company on a revenue-per-employee basis.

Other royalty companies that have been good to our precious metals funds are Royal Gold and Franco-Nevada. Both have huge cash flow, wide profit margins and pay dividends. Since Franco-Nevada went public in December 2007, it’s torn past both spot gold and most gold equity benchmarks.

As of now, royalty companies make up about 13 percent of USERX and 12 percent of UNWPX.

Diversify and Rebalance

As always, I recommend a 10-percent weighting in gold: 5 percent in gold jewelry or bullion, the other 5 percent in gold mining stocks. Remember to rebalance once a year.

“You might also get some additional benefits by rebalancing quarterly,” Ralph says. “That’s like playing chess with the market as opposed to rolling craps.”

In the meantime, look for the Shareholder Report, arriving soon in mailboxes all across the nation! Inside you’ll find articles not just on gold but also topics ranging from growth in India and Turkey to our Near-Term Tax Free Fund (NEARX), which has delivered 20 straight years of positive returns.

NEARX, in fact, is the focus of our next webcast, to take place next Wednesday, March 4. We hope you’ll join us!

Please consider carefully a fund’s investment objectives, risks, charges and expenses. For this and other important information, obtain a fund prospectus by visiting www.usfunds.com or by calling 1-800-US-FUNDS (1-800-873-8637). Read it carefully before investing. Distributed by U.S. Global Brokerage, Inc.

Gold, precious metals, and precious minerals funds may be susceptible to adverse economic, political or regulatory developments due to concentrating in a single theme. The prices of gold, precious metals, and precious minerals are subject to substantial price fluctuations over short periods of time and may be affected by unpredicted international monetary and political policies. We suggest investing no more than 5% to 10% of your portfolio in these sectors.

Bond funds are subject to interest-rate risk; their value declines as interest rates rise. Though the Near-Term Tax Free Fund seeks minimal fluctuations in share price, it is subject to the risk that the credit quality of a portfolio holding could decline, as well as risk related to changes in the economic conditions of a state, region or issuer. These risks could cause the fund’s share price to decline. Tax-exempt income is federal income tax free. A portion of this income may be subject to state and local taxes and at times the alternative minimum tax. The Near-Term Tax Free Fund may invest up to 20% of its assets in securities that pay taxable interest. Income or fund distributions attributable to capital gains are usually subject to both state and federal income taxes.

There is no guarantee that the issuers of any securities will declare dividends in the future or that, if declared, will remain at current levels or increase over time.

The S&P/TSX Global Gold Index is an international benchmark tracking the world’s leading gold companies with the intent to provide an investable representative index of publicly-traded international gold companies.

]]>http://www.kereport.com/2015/02/27/gary-yesterday/feed/152Third Party Company Reports - Fri 27 Feb, 2015http://www.kereport.com/2015/02/27/ripe-takeover-gold-canyon-resources/
http://www.kereport.com/2015/02/27/ripe-takeover-gold-canyon-resources/#commentsFri, 27 Feb 2015 16:21:28 +0000http://www.kereport.com/?p=27570A Swedish private research firm wrote up Gold Canyon yesterday. There is a nice overview of the company highlights. Click...]]>

A Swedish private research firm wrote up Gold Canyon yesterday. There is a nice overview of the company highlights.

Theralase Technologies Inc. proposes to offer for sale a minimum of 9,090,910 units of the corporation and a maximum of 18,181,819 units at a price of 44 cents per unit for minimum total gross proceeds of approximately $4-million and maximum total gross proceeds of approximately $8-million.

Each unit will consist of one common share of the corporation and one common share purchase warrant. Each warrant will entitle the holder to acquire an additional common share at a price of 54 cents for a period of 60 months following the date of issuance.

In connection with the offering, the corporation has engaged Euro Pacific Canada Inc. to offer the units for sale to the public on a commercially reasonable-efforts basis. For its services, the agent will receive a cash commission equal to 8.0 per cent of the gross proceeds raised under the offering (exclusive of proceeds raised from the president’s list) and that number of non-transferable broker warrants equal to 5.0 per cent of the number of units sold (exclusive of units sold to subscribers on the president’s list). Each broker warrant will be exercisable into one unit for a period of 60 months from the closing of the offering at a price of 54 cents per unit.

The offering is expected to close on or about March 2, 2015. The offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals (including TSX Venture Exchange approval). The units will be qualified for sale by way of a prospectus supplement to the corporation’s short form base shelf prospectus dated Jan. 9, 2015, which will be filed in the provinces of British Columbia, Alberta and Ontario.

The net proceeds of the offering will be used to finance research and development activities by Theralase’s photo dynamic therapy (PDT) division, commercialization activities by Theralase’s therapeutic laser technology (TLT) division, and for working capital and general corporate purposes.

Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) is pleased to announce the appointment of Mr. Roland Löhner to the Board of Directors.
Mr. Löhner has been a senior partner and managing Director of The Boston Consulting Group (“BCG”) for the last 20 years and during the last 5 years he has held the position of Managing Director for Latin America. He is fluent in Spanish, German, French, English, Portuguese, Dutch, and Italian. After retirement, he continues to serve as a Senior Advisor to BCG.

Mr. Löhner has wide project experience with international assignments. His work spans many countries and industries (including the mining industry), with a special focus on matters relating to strategic direction, organizational alignment, and corporate governance.

Before joining BCG, Mr. Löhner was a commodities trader for Cargill in the U.S., Holland, and Switzerland. He is active in several community and professional organizations, including the Board of TEC MILENIO, part of one of the largest private Mexican Universities.

Santacruz also reports that Mr. Craig Angus has stepped down from the Board of Directors for personal reasons. Mr. Angus joined the board in 2012 and was instrumental in the early years of the Company.

Arturo Préstamo stated; “I want to thank Craig for all of his support during our evolution period to become a producing company. It’s been a great privilege to have worked with Craig and learned from him. With Craig’s advice and support, we created solid foundations that we continue to build on”. Mr. Préstamo added, “I am very pleased to welcome Roland to our Board of Directors, I am sure that his broad experience gained from working with many different companies to achieve operational efficiencies and growth will add significant value to Santacruz and our shareholders”.

About Santacruz Silver Mining Ltd.

Santacruz is a Mexican focused silver company with a producing mine (Rosario); two advanced-stage projects (San Felipe and Gavilanes) and an early-stage exploration project (El Gachi). The Company is managed by a technical team of professionals with proven track records in developing, operating and discovering silver mines in Mexico. Our corporate objective is to become a mid-tier silver producer.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Rosario Mine

The decision to commence production at the Rosario Mine was not based on a feasibility study of mineral reserves demonstrating economic and technical viability, but rather on a more preliminary estimate of inferred mineral resources. Accordingly, there is increased uncertainty and economic and technical risks of failure associated with this production decision. Production and economic variables may vary considerably, due to the absence of a complete and detailed site analysis according to and in accordance with NI 43-101.